Annual and Sustainability Report 2023
About Cloetta
Cloetta, founded in 1862, is a leading confectionary company in Northern Europe. Our products are sold in more than 60 countries worldwide with Sweden, Finland, Denmark, Norway, the Netherlands, Germany and the UK as the main markets. We own some of the strongest brands on the market, such as Läkerol, Cloetta, CandyKing, Jenkki, Kexchoklad, Malaco, Sportlife and Red Band. Cloetta has seven production units in five countries and the company’s class B-shares are traded on Nasdaq Stockholm.
Cloetta’s net sales
Words from the President: A year of strong sales and improved profitability
“It was a year of strong profitable growth. It was also another rather extraordinary year, this time heavily marked by inflation, where we managed to raise our prices to adjust for higher input, raw material, and transportation costs. This was done in a fair and transparent way, and in absolute terms, leading to high customer loyalty and trust. At the same time, we continued to execute on projects that support our long-term strategy and growth.”
Key figures
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1862
Founded in
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2600
Employees
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> 60
Countries
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7
Factories
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SEK 8.3 bn
Net sales
-
9.6 %
Operating profit margin, adjusted
-
2
Business segments
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1.7 x
Net debt/EBITDA
Strategic priorities
Cloetta is a proud provider of joyful moments – our brands and products bring fun and joy to memorable occasions. We are convinced that our consumer focus is the basis for Cloetta to grow and our brands to flourish. We will meet the future with a winning culture and passionate way of working.
Consumer trends
- Greater individualisation
- Responsibility for the environment and human rights
- Health
- Local, genuine and transparent brands
- Superior sensory experiences
- E-commerce and digital channels increasingly important
New greenfield facility
In 2022, Cloetta announced the greenfield investment in the Netherlands with the ambition to create capacity for growth, significantly reduce cost, while reducing greenhouse gas emissions. When the new factory is fully operational it will be the first major candy factory running on renewable electricity in Europe.
Accelerate brand strength and grow consumer base
Sustainability
Cloetta’s sustainability agenda A Sweeter Future focuses on creating joy and long-lasting value For You, For People and For the Planet. The three pillars represent our most important areas in our business and value chain where we have the ability and the responsibility to create a positive impact.
Value chain
Cloetta’s main markets
Cloetta’s main markets are the countries in which we have our own sales and distribution organisation, and include Sweden, Finland, the Netherlands, Denmark, Norway, Germany and the UK.*
Investment case
- Strong local brands
- Attractive non-cyclical market
- Focus on continued margin expansion
- Clear strategy to deliver growth
- Strong market positions and distribution
- Attractive cash-flow generation and dividend
- Sustainable value creation